Phocas Financial Corp. Buys New Stake in IDACORP, Inc. $IDA

Phocas Financial Corp. bought a new stake in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 56,662 shares of the energy company’s stock, valued at approximately $7,171,000. Phocas Financial Corp. owned 0.10% of IDACORP as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Porfolio Solutions LLC raised its holdings in shares of IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after buying an additional 586,221 shares during the period. Zimmer Partners LP purchased a new position in IDACORP during the 3rd quarter valued at about $71,031,000. Soros Fund Management LLC purchased a new position in IDACORP during the 2nd quarter valued at about $46,919,000. Invesco Ltd. grew its position in IDACORP by 139.4% in the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after acquiring an additional 344,622 shares in the last quarter. Finally, BROOKFIELD Corp ON purchased a new stake in IDACORP during the second quarter worth about $33,920,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDACORP

In other news, VP Julia A. Hilton sold 1,000 shares of IDACORP stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $142.79, for a total transaction of $142,790.00. Following the completion of the sale, the vice president directly owned 2,313 shares of the company’s stock, valued at approximately $330,273.27. The trade was a 30.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

IDACORP Stock Performance

Shares of IDA opened at $144.29 on Monday. IDACORP, Inc. has a 1 year low of $108.15 and a 1 year high of $145.94. The stock has a market capitalization of $7.92 billion, a PE ratio of 24.46, a PEG ratio of 2.81 and a beta of 0.54. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 0.93. The stock has a 50-day simple moving average of $139.77 and a 200-day simple moving average of $133.41.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. IDACORP had a net margin of 17.84% and a return on equity of 9.36%. The firm had revenue of $405.24 million for the quarter, compared to analyst estimates of $533.06 million. During the same period in the prior year, the firm earned $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 59.66%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IDA. Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Sunday, February 22nd. BTIG Research reaffirmed a “buy” rating and set a $156.00 target price on shares of IDACORP in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Thursday, January 22nd. UBS Group raised their price target on shares of IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Finally, Morgan Stanley set a $155.00 price target on shares of IDACORP in a research note on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.